M&A Deal Summary

SPL Acquires Atchafalaya Measurement

On January 28, 2019, SPL acquired energy services and equipment company Atchafalaya Measurement from KLH Capital and Plexus Capital

Acquisition Highlights
  • This is SPL’s 2nd transaction in the Energy Services and Equipment sector.
  • This is SPL’s 3rd transaction in the United States.
  • This is SPL’s 1st transaction in Louisiana.

M&A Deal Summary

Date 2019-01-28
Target Atchafalaya Measurement
Sector Energy Services and Equipment
Buyer(s) SPL
Sellers(s) KLH Capital
Plexus Capital
Deal Type Merger

Target

Atchafalaya Measurement

Scott, Louisiana, United States
Atchafalaya Measurement, Inc. is a multi-basin Oil & Gas Services company providing customized measurement systems to onshore and offshore drilling operations in many of the fastest-growing drilling regions in the United States. Atchafalaya Measurement was founded in 1982 and is based in Scott, Louisiana.

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Buyer(S) 1

Buyer

SPL

Houston, Texas, United States

Category Company
Founded 1944
Sector Business Services
DESCRIPTION

SPL is an independent provider of critical outsourced hydrocarbon measurement, analysis, and reporting services for oil and gas production and transport in the United States. The Company provides a comprehensive suite of gas and liquid laboratory tests and related field services from its network of 8 labs and 14 field service locations across the U.S. and counts leading independent and major exploration and production companies, as well as midstream operators, among its customers. SPL’s test and measurement services enable its customers to evaluate the composition of the hydrocarbons they are producing to fine-tune production from wells, market products downstream, meet regulatory reporting requirements, and ensure accurate payment of royalties to leaseholders. Southern Petroleum Laboratories was founded in 1944 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 9
Sector (Energy Services and Equipment) 2 of 2
Type (Merger) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 3 of 8
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-12 American Measurement Services

Meno, Oklahoma, United States

American Measurement Services LLC is a provider of critical measurement services to the oil and gas industry in Oklahoma, Kansas and Texas and maintains deep and long-standing relationships with blue-chip customers serving the U.S. energy market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-25 Banded Iron Group - Laboratory & Measurement Service Business

Calgary, Alberta, Canada

Banded Iron Group - Laboratory & Measurement Service Business offers over 200 unique laboratory tests, mobile testing, sample collection, meter proving and measurement solutions throughout the United States and Canada.

Buy -

Seller(S) 2

SELLER

KLH Capital

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

KLH Capital is a private investment firm focused on smaller company investments in a variety of growing industry sectors. KLH helps provide management teams with capital to facilitate recapitalizations, management buy-outs/buy-ins, family successions, and other ownership transitions. KLH generally pursues companies with $4 to $20 million in pre-tax earnings and will consider opportunities across the US. KLH will not invest in start-ups, high technology, software, biotech, restaurants, retail, real estate development, oil and gas operations, or new construction businesses. KLH Capital is based in Tampa, Florida.


DEAL STATS #
Overall 26 of 30
Sector (Energy Services and Equipment) 1 of 1
Type (Merger) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 26 of 30
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-15 BluSky Restoration

Centennial, Colorado, United States

BluSky Restoration is a provider of commercial, industrial, governmental, and multi-family restoration, renovation, environmental, and roofing services with an emphasis on commercial, large losses, and emergency restoration services across the continental United States. BluSky Restoration was founded in 2004 and is based in Centennial, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Shenandoah Industrial Solutions

Pompano Beach, Florida, United States

Shenandoah Industrial Solutions is a provider of storm drainage system inspection, cleaning, and CIPP rehabilitation serving municipalities and commercial customers. Shenandoah Industrial Solutions is based in Pompano Beach, Florida.

Buy -
SELLER

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 30 of 41
Sector (Energy Services and Equipment) 2 of 3
Type (Merger) 1 of 1
State (Louisiana) 3 of 3
Country (United States) 30 of 41
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-28 MCCi

Tallahassee, Florida, United States

MCCi is an IT solutions provider offering maintenance, support, managed services, installation and integration, and software resale of enterprise content management (“ECM”) software and other business process software solutions. MCCi has a diverse client base including cities/local government agencies, commercial, education, law enforcement, and other support/integrators. MCCi was founded in 2003 and is based in Tallahassee, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Shenandoah Industrial Solutions

Pompano Beach, Florida, United States

Shenandoah Industrial Solutions is a provider of storm drainage system inspection, cleaning, and CIPP rehabilitation serving municipalities and commercial customers. Shenandoah Industrial Solutions is based in Pompano Beach, Florida.

Buy -